NEW YORK, NY / ACCESSWIRE / January 31, 2019 / U.S. equities regained footing on Wednesday as investors cheered the latest round of corporate earnings and the Federal Reserve kept the interest rates unchanged at 2.25% to 2.50%. The Dow Jones Industrial Average went higher by 1.77 percent to close at 25,014.86, while the S&P 500 jumped 1.55 percent to settle at 2,681.05. The Nasdaq advanced 2.2 percent to close at 7,183.08.
According to the chief global market strategist at Invesco, Kristina Hooper, “More important than the Fed’s promise to be ‘patient’ about raising rates is the Fed’s assertion that it will not hesitate to make changes to balance sheet normalization. The balance sheet is a far more powerful tool, and one that has a bigger impact on the stock market.”
The Market Wealth Report Initiates Coverage on:
bluebird bio, Inc.
Mirati Therapeutics, Inc.
bluebird bio's stock jumped 5.42% Wednesday, to close the day at $130.16. The stock recorded a trading volume of 460,756 shares, which was below its three months average volume of 749,238 shares. In the last year, bluebird bio's shares have traded in a range of 87.49 - 236.17. The share price has gained 48.77% from its 52 week low. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $110.18 is below its 200-day moving average of $133.79. Shares of bluebird bio have gained roughly 31.21 percent in the past month.
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On Wednesday, shares of Mirati Therapeutics recorded a trading volume of 784,179 shares, which was above the three months average volume of 625,985 shares. The stock ended the day 5.31% higher at $65.45. The share price has fallen 2.69% from its 52 week high with a 52 week trading range of 24.65 - 67.26. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $50.45 is above its 200-day moving average of $49.12. Shares of Mirati Therapeutics have gained roughly 54.29 percent in the past month.
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SOURCE: The Market Wealth Report